BUSINESS

Debts to third parties show no sign of decline

TAGS: Economy

The Greek state’s expired debts to its suppliers and taxpayers increased in February, reaching a total amount of 3.39 billion euros. While the government was supposed to reduce the amount of overdue payments to third parties with the aim of bringing them down to zero by August, the figure has risen instead so far this year.

Data from the State’s General Accounting Office on Tuesday showed an increase of 237 million euros. The expired debts of ministries, social security funds, hospitals, local authorities and other state entities amounted to 2.614 billion euros at the end of February, against 2.461 billion at end-January.

Furthermore, outstanding tax rebates increased to 776 million euros in February from 692 million in January. Notably, the state’s debts are actually much higher as the figures published do not include pending customs payments concerning special consumption taxes and value-added tax to industries, hotels, fishing boats and vessels, as well as individuals or self-employed professionals.

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